First National Bank of Morris blotters, Depreciating Currency

The topic of this bank blotter is one that has not
been of great concern in recent years. When our
coins were made of silver or gold filing a bit off
may have been a profitable undertaking, but not
today with our "sandwich" coins. The US quarter went
to a "sandwich" in 1965 when Johnson was president and is
sometimes call a "Johnson Sandwich." The current clad
version is two layers of cupronickel, 75% copper and
25% nickel, on a core of pure copper. If no one
has filed the edge off the coins 80 quarters should
weigh one pound.

The text under the image reads:

DEPRECIATING CURRENCY - In 1782 clipping coins was an almost
universal practice among individuals. A specie payment
from France was found to be mostly full weight whereupon
Timothy Pickering, Commissioner General, was ordered to
lighten the coins.

OUR COMMON INTERESTS

Bank and community are linked together by the closest ties of
common interests. We are responsible to our depositors for
trustworthy handling of their money, to our borrowers for
faithful execution of their program, to our stockholders
for a fair return on their investment. We pledge to our
neighbors our continued faithfulness in meeting these
responsibilities.

The First National Bank
OF MORRIS, NEW YORK
Member Federal Deposit Insurance Company